Operating Agreement Bylaws

LLC members typically have a lot of leeway in determining how they want to run their business. An LLC enterprise agreement can be as simple or as complex as you want. It can be a framework for how the company should be governed – members` initial contributions (in cash or in kind), management responsibilities, accounting principles, and other fundamental conceptions of how the business operates. It can also be a very complex document detailing how members` capital accounts are handled, how LLC tax returns are prepared (and who is responsible for them), and the restrictions that apply to the purchase or sale of affiliate shares (i.e., pre-emption rights). .